Bitcoin Bullish: HODLers Buying At Rate Of 194,500 BTC/Month
On-chain data shows the Bitcoin HODLers have continued to accumulate recently as they expand their holdings at a rate of 194,500 BTC per month....
- Bitcoin HODLers have been accumulating BTC at a rate of 194,500 per month.
- The illiquid supply of BTC, held by entities with little to no history of spending their coins, has been increasing.
- The long-term holder (LTH) supply metric, which tracks investors who purchased their coins more than 155 days ago, can lag behind.
- The illiquid supply metric provides an idea of the buying or selling behavior of HODLers.
- The Bitcoin illiquid supply change has recently surged to highly positive values, indicating that HODLers' holdings are expanding.
- HODLers had been distributing in February-March, coinciding with a decline in BTC price.
- HODLers have ramped up their purchasing recently, nearing cyclical highs seen before the January rally.
- HODLers are currently buying at a rate of 194,500 BTC per month.
- Bitcoin is currently trading around $30,700, up 2% in the last week.
The sentiment of the article is generally positive, highlighting the continued accumulation of BTC by HODLers and the positive sign it represents for the Bitcoin rally.